St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-10
THE STATE. OF TRADE.
Regular Weekly Review Of the CONNER.
cial Situation.
LEGITIMATE TRADE ACTIVE
Speculation in Products Takes a Down.
ward Turn---Agitatien OF
the Tariff.

NEW YORK, Dec. Or. G.. Dun &
Co.'S weekly review of trade will say:
Legitimate trade continues fairly active
for the season, though embarrassed in
some branches by the fluctuations in
speculative markets. Speculation in
products after few days Of wild adj
vance. has taken a turn downward, as
the natural result af enormous sales TO
realize. With rapidly expanding cur
rency money is generally easier than
week ago. though rates are still high at
many points, and complaints of slow
collections do not diminish. Agitation
of the tariff question already begins to
cause revision of calculations for the
future in some departments. The sharp
decline in real estate SpeculatiOns and
prices. at some Southern and Western
points. tends TO check developments
there. and subject investors to some
financial strain. Large sales of BeSSe-
mer iron at $3.50 are reported. and
sale of steel rails. netting S3l at mill,
has been made. Buyers still are back
ward, but brokers openly offer below
$50. Virginia pig iron, No. l. is offered
at $50 for delivery where freight is S1.20,
and some Alabama iron for future de-
livery at low prices. One Thomas furn-
ace goes out of blast, and the Lehigh
strike causes some embarrassment.
Coal has declined about 81; orders
Slackening. WoOlenS do not improve
in demand. and heavy goods open, in
some cases. below last years prices, so
that manufacturers are not encouraged
to increase their purchases of raw wool,
which appears rather weak. Raw cot
ton has declined an eighth, but goods
are held at recent advances. The boot
and shoe trade is large and promising,
with exceptionally good payments and
cheaper material, but there is complaint
that competition cuts down prices too
far. Leather is weaker, but tanners
reason that after seven years decline
prices are low enough. The movement
of freight westward shows an increase
of 5000 tons for November. and east
bound shipments are increasing, but the
bank exchanges of all cities outside of
New York begin to fall below those of
last year. The decline at all cities last
week was 1913 per cent, and outside
New York 2.6 per cent. At most int
riOr points trade is reported fair for the
season, but collections are "SloW and
have to be forced" at Atlanta, slow at
Detroit, fair at Memphis and Omaha,
and rather better at Kansas City.
Money at Chicago is i'll undated de-
mand at per celA, and operators bid
Tor funds to carry products at interior
towns Eastern bills are qu0tedsat par,
bank balances at New York having
been drawn as low as is convenient.
Though the money markets are OH the
whole easier, the pressure at speculative
centers continues. The treasury has
paid out for the week Sl.000,000 more
than it has taken in, and
since July 10, has increased the aggre-
gate circulation S53.0G0,000. Exports
from New York for five weeks are Z per
cent below and imports ) per cent above
those of the same week last year. Wheat
speculation reached 30000,000 bushels
on Tuesday, and 105,000.000 for the
week, and prices advanced sharply, only
to close shade lower than week ago.
Corn and oats gained 31sc for the
week and oil is unchanged. Coffee has
advanced &c, and the excitement in
nearly cent per pound, but the reac-
ton in pork products takes prices lit
tie lower than a week ago. The aver
age risk in food products since July
was a shade over 20 per cent on Tues
day. and it is questioned whether the
legitimate effect of partial failure of
crops has not been fully realized in
prices, but the increasing supply of cur
rency still tends TO keep speculation
active. Stocks have been weaker since
congress met. though holders look for a
better demand in January, when yearly
dividends and profits come to be in
vested. The total business failures for
the United States and Canada this week
were 254; corresponding week of last
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